The world of cryptocurrency has seen a significant rise in the number of hardware wallets available on the market in recent years, each claims to keep digital assets secure and safe. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure security for digital asset storage becomes increasingly essential. The Ellipal wallet is a gadget which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website and reviews online claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. For example, even if the TREZOR is connected TREZOR with a compromised device that is infected with viruses Your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes through an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of hackers getting an access point to your private keys via an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it has not been combat-tested to date. This is something prospective buyers should be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were around for longer and have an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add the support of more coins in the near future.
In the end it is clear that the Ellipal wallet has been a fresh player on the hardware wallet market that claims to be completely safe due to its total isolation from any network or computer. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is on par with the other options. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallet options before making a decision. The final decision about whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other wallets, and it’s an all-new product on the market.